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ICANN revealed that Amazon fought off three other applicants for the .buy domain, including Google, Famous Four Media and a startup called Donuts. It is currently unclear what Amazon's plans are, and at the time of publishing the firm had not responded to V3's request for comment.

The auction occurred after numerous firms expressed interest in the domain. ICANN took bids for the .tech and .vip domains alongside .buy.

Six applicants bid for .tech, which Dot Tech eventually secured with a $6,760,000 bid. Five firms bid for the .vip domain, which was eventually sold to Minds+Machines for $3,000,888.

ICANN, a non-profit organisation, is yet to reveal what it will do with the proceeds. President of ICANN's global domains division Akram Atallah said the proceeds will be held in separate reserves until the organisation finds an appropriate use for them.

"The proceeds from these auctions will be separated and reserved until the board determines a plan for the appropriate use of the funds through consultation with the community. We continue to encourage parties to reach agreements amongst themselves to resolve contention," he said.

The auction follows the rollout of several regional domains. Registrar Nominet made the .uk domain available for purchase in June.

The .uk saw a flurry of interest and Nominet reported that more than 50,000 firms purchased the .uk suffix – including Sainsbury's, Burberry, Bentley and Stephen Fry – within 24 hours of launch.